Alumis (NASDAQ:ALMS) Now Covered by Analysts at Stifel Nicolaus

Investment analysts at Stifel Nicolaus assumed coverage on shares of Alumis (NASDAQ:ALMS) in a research report issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $44.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 56.70% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Guggenheim increased their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Chardan Capital assumed coverage on shares of Alumis in a research note on Wednesday, January 21st. They set a “buy” rating and a $37.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price target on shares of Alumis in a report on Tuesday, January 6th. Loop Capital set a $37.00 price objective on Alumis in a research report on Wednesday, January 21st. Finally, Citigroup reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.22.

Alumis Stock Performance

NASDAQ:ALMS opened at $28.08 on Wednesday. The stock has a 50-day simple moving average of $21.01 and a two-hundred day simple moving average of $10.99. The firm has a market capitalization of $2.93 billion, a PE ratio of -6.93 and a beta of -2.13. Alumis has a 52-week low of $2.76 and a 52-week high of $30.60.

Insider Activity

In other news, major shareholder Foresite Capital Management Vi bought 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The stock was bought at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the purchase, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju purchased 588,235 shares of Alumis stock in a transaction on Friday, January 9th. The shares were acquired at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the transaction, the director directly owned 1,853,488 shares in the company, valued at $31,509,296. The trade was a 46.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,396,983 shares of company stock valued at $35,813,664 over the last 90 days. 40.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alumis

Large investors have recently bought and sold shares of the business. Samsara Biocapital LLC increased its holdings in Alumis by 19.9% in the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after acquiring an additional 955,614 shares in the last quarter. Foresite Capital Management VI LLC increased its stake in shares of Alumis by 1.1% during the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock worth $12,743,000 after purchasing an additional 45,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Cormorant Asset Management LP boosted its holdings in Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock worth $35,483,000 after buying an additional 1,488,200 shares during the last quarter. Finally, Trium Capital LLP increased its stake in Alumis by 17.9% during the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after buying an additional 474,072 shares in the last quarter.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.